News
Adjuster moves into the black in 2007
Resources in Insurance Group has reported that its turnover increased 35% from £2.82m to £3.81m in 20076. Its pre tax profit improved from a loss of (£62 000 in 2006) to a profit of £120 000.
Management reshufffle at PartnerRe Global
With effect 1st September 2008 Bermudian (re)insurer PartnerRe has announcd it will amend its senior management team as follows:
TSR predicts storm activity 20% above norm; but downgrades forecast
With the start yesterday of the 2008 hurricane season, Benfield-sponsored hurricane forecasting experts Tropical Storm Risk, are predicting storm activity in 2008 which will slightly above the long-term (1950-2007) norm.
Towergate annual results reveal £2.1bn GWP
The Towergate Family – including TPL, Broker Network, Paymentshield and Open International – has reported total sales (GWP) of £2.1bn, income of £394m and EBITDA of £166m on a pro forma basis for the 12 months leading to 31 December 2007.
Nationwide announces new insurance affinity partner
LV and Nationwide Building Society have today announced a new six year partnership.
Snowball outlines reasons for stepping down from Towergate board
Towergate has confirmed that Patrick Snowball has relinquished his non executive role on Towergate Partnership Board but remains chairman of Towergate Financial Services
New Axa Insurance CEO Maso insists he is no 'Mr Fix It'
The new chief executive of Axa Insurance, Philippe Maso, has insisted that he is not a Mr Fix-It and is here for the long term.
Snowball to step down at Towergate after IPO delay
Former Aviva general insurance boss Patrick Snowball is stepping down as deputy chairman of consolidator Towergate ( Snowball outlines reasons for leaving)
Snowball out as deputy chairman of Towergate
Former Aviva general insurance boss Patrick Snowball is stepping down as deputy chairman of trailblazing UK broking consolidator Towergate, according to a report.
Berkshire Hathaway reports a 64% decrease in Q1 profit
Berkshire Hathaway reported a first-quarter profit of $940m, a decrease of 63.8% from the same perio...
Universal Studios fire to cost $50m
The fire at Universal Studios is expected to cost insurers around $50m, sources familiar with the si...
Market votes to amend Lloyd's Act
Lloyd's has voted to amend the Lloyd's Act 1982 by means of a legislative reform order. At an extra...
JLT to acquire Harman Wicks Swayne?
Broking giant JLT is in discussion with HWS Holdings that could see it buy all or part of the Lloyd'...
Florida P&C pricing off 15% says Guy Carpenter
Florida property catastrophe pricing is expected to decline by about 15% at the 1 June renewals, acc...
Marsh CEO to get $5m compensation
MMC will pay departing chief financial officer Matthew Bartley more than $5m in compensation after t...
Fitch: only a $40bn loss would halt cat slide
It would take insured losses of around $40bn to reverse the softening catastrophe price cycle, US ra...
Aon and Florida compensation deal
The Florida authorities have reached a settlement with Aon relating to undisclosed compensation in c...
AM Best: Vacant houses may cause fraud worries
The next big hurricane to hit the US mainland may cross a landscape with an unusually high number of...
XLCA says exposure to Alabama's Jefferson County is $810m
SCA, a subsidiary of XL's 46%-owned financial reinsurer XL Capital Assurance (XLCA) said its exposur...
Allied World launches two US specialist units
Bermudian (re)insurer Allied World Assurance Company has launched two specialist units in the US - A...
Busy month for capital market convergence
May was a busy month for the reinsurance world's venture into the capital markets. As revealed by R...
Citizens cover attracts big hedge fund support
Citizens, the Florida state-owned insurer of last resort, is to see a 1 June $440m reinsurance place...
China losses may exceed $20bn
Catastrophe risk modeling firm Air Worldwide estimates that total losses to insured and uninsured pr...
No widespread US downgrades
Moody's has said that there won't be widespread downgrades of US life and property and casualty insu...